"The Letter Agreement and the Loan were reviewed and approved by special committees consisting of independent directors of both Great Panther and Cangold."
UPDATE: All the above was pre-open today, now it's post close and here's how Cangold (CLD.v) traded today:
- CLD.v is down 20% today on 1m+ volume.
- It's also down 33% from midday yesterday (ohhh, you mean somebody knew about the deal yesterday morning and deci...nah! Surely not!)
- And all while Great Panther (GPR.to) remained unchanged today.
Let that sink in: Big company makes a buyout offer for small company and as a result, small company drops 20%. If ever shareholders in Vancouver needed help from the BCSC for once, instead of just watching those toothless Canadian regulatory lackeys do nothing yet again while the retail investment community gets intercourse love up the anal tract from the crooks running juniors, it's today.